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Cover two people with one policy, often at lower cost

Flexible Joint Universal Life insurance policies may work for couples and business partners.

Family and life insurance

Joint Universal Life provides a lifetime of protection [1] while building tax-deferred cash value. The policy offers coverage for two individuals, often at a lower cost than two separate permanent policies, and an income-tax free death benefit is paid to beneficiaries upon the death of the first insured.

Who is it for?

Joint Universal Life is available to eligible individuals ages 18-85. It can be a good option for:

  • Couples: Joint Universal Life can help assure you that loved ones could be provided for after your or your partner's death. While researching policy types, another question to answer is “how much life insurance do you need”?
  • Business partners: You and your co-owner can purchase a Joint Universal Life policy, and the surviving partner can use the death benefit to help cover business expenses.

Why choose it?

Besides the convenience of insuring two individuals under one policy, Joint Universal Life offers additional benefits:

  • Flexible: Joint Universal Life allows you to increase or decrease the amount of your premium payment.
  • Growth: Your policy builds a tax-deferred cash value over time.
  • Accessible: You can access this cash value [2] via policy loans or withdrawals to pay for your child's education, make major home improvements, grow your business, and more.
  • Accommodating: A survivor purchase option allows you to purchase a new permanent policy after the death of the first insured without evidence of insurability — so long as it's been fewer than 90 days since his or her passing and you're younger than 75.
  • Affordable: Because Joint Universal Life pays a death benefit on the first insured, it's typically more affordable than purchasing two separate permanent policies.
  • Customizable: Talk to your State Farm® agent about optional riders that can add benefits to your policy.

Still on the fence about coverage? Learn more about if life insurance is worth it.


[1] Coverage will expire when either no premiums are paid following the initial premium or subsequent premiums are insufficient to continue coverage.
[2] Only four withdrawals are allowed per year ($500 minimum per withdrawal). Surrenders may be subject to a surrender charge. Unpaid loans and withdrawals will reduce the death benefit and the policy cash value. Withdrawals also will reduce the policy account value/cash surrender value. Loans accrue interest.

The information in this article was obtained from various sources not associated with State Farm® (including State Farm Mutual Automobile Insurance Company and its subsidiaries and affiliates). While we believe it to be reliable and accurate, we do not warrant the accuracy or reliability of the information. State Farm is not responsible for, and does not endorse or approve, either implicitly or explicitly, the content of any third party sites that might be hyperlinked from this page. The information is not intended to replace manuals, instructions or information provided by a manufacturer or the advice of a qualified professional, or to affect coverage under any applicable insurance policy. State Farm makes no guarantees of results from use of this information.


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